Bitcoin Panic Selling Today

Bitcoin Panic Selling Today

Damage was done to the charts today. These pages have been speculating/forecasting a $316 low for the past two weeks. $316 was broken today, hitting $305 as of this writing. We continue to believe that 12/22 is the most likely date of the low. 12/22 is still four days away. A lot can happen in four days, particularly if people are panicking. This chart is the current 3-day chart. Note that we are only one candle from the projected turn date of 12/22. But the price is now sitting below the support line. That the support line was definitively broken does not bode well on the market short....


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Quotes

The decision to bring virtual currency within the scope of our regulatory framework should be viewed by those who respect and obey the basic rule of law as a positive development for this sector. It recognizes the innovation virtual currencies provide, and the benefits they might offer society.

Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Ne